Need Help Erasing IRS Debt?

(ARA) - Do you owe Uncle Sam money? Are you struggling with IRS debts and at a loss about what to do? Don't despair, you are not alone. Many Americans owe back taxes, or cannot afford to pay their IRS debts, but there are places you can turn for help.A good place to start is with an understanding of the different IRS tax debt strategies. There are five of them:1. Offer in Compromise: a program where you can settle your tax debts for less than what you owe. Requires making a lump sum or short term payment plan to pay off the IRS at a reduced dollar amount.2. Installment agreement: a monthly payment plan for paying off the IRS.3. Partial payment installment agreement: a somewhat new debt management program where you have a long term payment plan to pay off the IRS at a reduced dollar amount. .


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